Sonae SGPS were advised by Morais Leitão on the sale of 50% of Universo IME to Bankinter Consumer Finance in the context of the creation of a joint venture between the two entities to create a leading operator in the consumer credit sector in Portugal. Universo IME is an electronic money institution which is part of the Sonae group.
Morais Leitão coordinated all legal advice and provided full multidisciplinary assistance to Sonae SGPS and Universo IME, namely in the structuring of the transaction, in the context of due diligence and in the negotiation of the relevant contractual documents of the transaction.
The team involved in the transaction included Magda Viçoso, Carolina Barrueca and Pedro Charters (corporate), Maria Soares do Lago (finance), Philipp Melcher and Beatriz Lopes da Silva (competition) and Inês Pinto Leite (tax).
The conclusion of the purchase and sale is subject to the verification of the usual condition’s precedent in transactions of this nature, including the approvals of the competent authorities (European Commission and Bank of Portugal).